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Financial Highlights
Dollars in millions, except per share amounts;
years ended December 31		 2022 % CHANGE 2021 % CHANGE 2020
Reported Income Statement Data
Net sales $7,946 15% $6,894 15% $5,987
Operating income 762 146% 310 (47)% 582
Diluted earnings per share 7.34 324% 1.73 (66)% 5.15
Balance Sheet and Other Data
Cash and cash equivalents 236 328 665
Total assets 7,561 6,999 6,858
Total debt 2,483 2,046 2,186
Total equity (including redeemable equity) 3,262 3,225 3,072
Annual dividends declared per common share 2.72 2.58 2.54
Net debt to adjusted EBITDA ratio1 2.2 1.9 1.8
Cash provided by operations 152 392 829
Mechanical stores expense 55 55 54
Depreciation and amortization 215 220 213
Capital expenditures and mechanical stores purchases 300 300 340
Sales Based on 2022 Net Sales
Comparison of Cumulative
Five Year Total Return
Net
Sales (in billions)
Operating
Income (in millions)
Reported Diluted Earnings
Per Share (in dollars)
Adjusted Diluted Earnings
Per Share1 (in dollars)
Adjusted Return on
Invested Capital1 (percentage)
Market
Capitalization as of 12/31
(in billions)

1See Financial Performance Metrics beginning on page 58 of the Annual Report for a reconciliation of these metrics, which are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), to the most comparable GAAP measures